Renault Shares Drop 16 Percent on Paris Stock Exchange Amid Forecast Cut

French vehicle manufacturer Renault's share price plummets by 16 percent on the Paris stock exchange – the largest decline since the outbreak of the pandemic.

The reason for the share price fall is the revised forecast of the company's operating margin, now announced, from previously 7 percent to 6.5 percent. Renault also warns of a weaker vehicle market as well as increasingly tougher competition.